Infineon grows strongly, confirms guidance

Infineon grows strongly, confirms guidance

Business news |
By Christoph Hammerschmidt

With revenues of €3.95 billion in the first quarter of the 2023 financial year, the Munich-based semiconductor manufacturer grew by a full 25% compared to the same quarter last year.

Profit after tax rose even more strongly, growing by almost 60% to €728 million. CEO Jochen Hanebeck was more than satisfied. “In a weaker overall economic environment, key parts of our business are proving robust. In particular, the energy transition and the expansion of electromobility are ensuring continued high demand for our solutions for industrial and automotive applications.” Profitability also improved – gross margin rose from 43.9% to 49.2%.

The company saw a slightly weaker development in products for applications such as smartphones, PCs and data centres. For these application groups Infineon mainly produces chips for regulating voltage and power (PMICs). Business with products for the automotive industry grew by 35% and with solutions for industrial power control by 31%.

Against the backdrop of a continued unfavourable exchange rate, Hanebeck left its sales forecast for the full financial year at €15.5 billion despite the good figures. The planned investments also remain at €3 billion.

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